The Heritage Bank of Commerce have today announced that Sherry Crowley has been made Vice President and Business Development Officer of its Heritage Capital Group, the Bank’s accounts receivable financing and factoring division.
DnB, Norway’s biggest bank and parent company of Norway’s largest factoring company, DnB Factoring AS, has announced a record 30% rise in pre-tax profit for the first six months of the year. The figure was given as NKr2.59bn (US$288m).
Clearly Business, a joint e-venture between Freeserve and Barclays Bank has been launched today. The website is planned as an encyclopaedic support service for small businesses.
On Friday, the governor of the Bank of Japan, Masaru Hayami, persuaded the bank’s policy board to raise rates from 0 to 0.25 %. Market analysts do not anticipate any further rise in the rate until next year.
The European financial group Fortis is currently in contention with the Japanese investment bank Nomura.
As part of a large expansion programme, Chile’s Banco de A. Edwards announced yesterday that it had opened a factoring unit.
The US’s largest provider of factoring services, CIT Commercial Services, has announced that it will form a strategic alliance with Cyber Merchants Exchange.
The Finova Group has today announced that it has signed an agreement to sell its commercial services business (which provides factoring and accounts receivable management services) to GMAC Commercial Credit.
Hiromu Nonaka, the Secretary General of Japan’s ruling Liberal Democratic Party has made an announcement regarding future changes in the rate of interest, saying “It is up to the Bank of Japan to decide.”
German Chancellor Gerhard Schrцder, referring to his country’s reputation for high taxes and low growth, has declared that “The German disease is over.” Reforms last month have cut the tax burdens of incorporated companies from 40% to 20% (effect
